Kaohsiung head quartered Taiwanese steel giant China Steel Corp announced that it would raise domestic steel prices by an average of 2.5% per tonne for delivery in March 2020. The price of hot rolled steel plates, hot rolled carbon steel, cold rolled sheets and coils and hot dipped zinc-galvanized sheets would increase by TWD 700 (USD 25) per tonne, while the price of hot rolled steel bars and wire rods would rise by TWD 450 per tonne. The price of electrical sheets would rise by TWD 2,000 per tonne for low to medium grade products, and rise by TWD 2,500 per tonne for high-grade ones. CSC said its decision reflected recent price hikes by Chinese industry peers Baoshan Iron & Steel Co and Anshan Iron and Steel Group Corp.
CSC had raised domestic steel prices by 9.5% for delivery in February 2021, eighth straight month of increases. Prices are to increase by TWD 2,200 per tonne (USD 78) for hot rolled steel, hot rolled plates and electro galvanized sheets, TWD 2,500 per tonne (USD 89) for cold rolled steel and TWD 3,000 per tonne (USD 107) for electrical sheets.
Earlier on December 11 2020, China Steel Corporation had hiked steel prices for domestic sales in the January 2021 & January-March 2021 quarter by 6.1% in average, TWD 1,200-1,500 per tonne (USD 43-53).